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Swiss banks have seen a collective brand value increase of 11% to USD 20.7 billion, yet none made the global top 10, indicating a decline in their international standing. UBS remains the most valuable Swiss brand at USD 14.1 billion, bolstered by its acquisition of Credit Suisse, but still trails behind the Industrial and Commercial Bank of China, valued at USD 79.1 billion. Notably, Pictet experienced significant growth, with a 31% increase in brand value.
Swiss banks have seen an 11% increase in brand value to $20.7 billion, yet none made the global top 10, highlighting a decline in international standing. UBS leads as the most valuable Swiss bank at $14.1 billion, but remains significantly behind global leader ICBC, valued at $79.1 billion. Notably, Pictet experienced a remarkable 31% growth in brand value.
The Development Bank of Kazakhstan (DBK) has secured a framework agreement with Banco Santander for up to €400 million (approximately $434 million) to finance infrastructure and energy projects involving international exporters. Over the past year, DBK has borrowed around $1.96 billion, initially relying on Chinese banks before shifting to European lenders, including recent agreements with German banks and Italian institutions.
Huawei reported a revenue of over 860 billion yuan (approximately US$120 billion) for 2024, marking a 22% increase from the previous year. The government and enterprise sector saw a revenue boost of over 25%, reflecting the company's strategic focus on the domestic market amid changing conditions.
Huawei has launched its Pura X smartphone, the first in its flagship series to run entirely on HarmonyOS Next, featuring an AI assistant capable of humanlike emotional interactions. The device, powered by Huawei's Pangu large language model and enhanced by DeepSeek's AI, marks a significant step in the company's efforts to reduce reliance on Android. As Huawei aims to expand its ecosystem, it has attracted major apps to its AppGallery, while its smartphone market share in China has seen a rise despite ongoing challenges in the global market.
Huawei has launched the Pura X, a revolutionary foldable smartphone featuring a 16:10 aspect ratio screen and powered by HarmonyOS 5, which enhances performance by 40%. Priced at 7499 yuan, it combines smartphone and tablet functionalities, appealing to a wide user base. The device also boasts a 4720mAh battery with fast charging and innovative AI features, positioning Huawei favorably in the recovering foldable market.
Guangzhou Automobile Group has launched a subsidiary, Huawang Automotive Technology Guangzhou, to co-develop a luxury vehicle brand with Huawei Technologies, investing CNY1.5 billion. The first model will be a luxury intelligent new energy vehicle priced around CNY300,000, featuring Huawei's smart driving and vehicle control solutions. This partnership aims to enhance GAC's position in smart driving technology by 2027, moving beyond traditional collaboration models.
Manycore Tech Inc., a Chinese AI startup specializing in spatial design software, is expanding its global presence despite ongoing US-China tensions. With teams in over 10 countries and serving enterprise customers in 200 markets, the company reported 86.3 million monthly active visitors in 2024.Recognized as one of Hangzhou’s “Six Little Dragons,” Manycore filed for a Hong Kong IPO after abandoning US listing plans due to regulatory challenges. While focusing on affordability to grow its user base, the company reported a loss of 422.1 million yuan (US$58.3 million) in the first nine months of 2024.
Chinese AI startup Zhipu AI has secured a 300 million yuan (US$41.5 million) investment from a government-backed fund in Chengdu, part of a national initiative to enhance domestic AI capabilities. Founded in 2019, the company, valued at 20 billion yuan (US$2.77 billion) as of July 2024, plans to develop a regional AI model for Sichuan province and expand its infrastructure. However, Zhipu AI and its subsidiaries were added to the US export control list in January, limiting their access to US components.
A Huawei representative attempted to prevent a Luxeed S7 owner from voicing complaints at a consumer rights event in Hangzhou, highlighting ongoing tensions between automakers and consumers. The owner reported issues with the car's front camera fogging, affecting the autonomous driving system, and shared a previous incident where another S7 crashed unexpectedly. Despite these claims, Huawei attributed the crash to driver error, stating the gas pedal was pressed before the incident.
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swiss banks struggle to maintain global brand value amid rising competition
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11:09 20.03.2025
swiss banks struggle to maintain global brand value amid rising competition
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